Expanding Knowledge in the Front End of Innovation and Understanding why Breakthrough Innovation is so Difficult
31 October 2012 – More than 30 avid industry participants attended the one-day innovation discovery workshop, which featured keynote speaker – Associate Professor Peter Koen, and his sharing on Front End of Innovation, and the difficulties of Breakthrough Innovation.
The group was also introduced the different types of breakthrough innovation and business models, after acquiring an understanding of the success ‘ingredients’ such as high performance teams, collaboration and right type of voice of the customer tools and techniques.
The renowned Back-Bay Battery Simulation game from Harvard Business School, was also used as a training aid in the last section of the workshop, to allow participants a fantastic simulation experience on simultaneous management of incremental and breakthrough products. While playing the game, participants face the classic Innovator’s Dilemma and were challenged with many real-life business scenarios, such as the timing and level of investment across mature and new businesses, choices regarding market opportunities and inherent product performance characteristics, requirements to meet constraining financial objectives and constant trade-offs between investment options, all in the context of uncertain market information.
The participants gave great feedback about the workshop and found it highly insightful and enjoyable.